 If an article is sold for Rs.178 at a loss of 11%. What should be its selling price in order to earn a profit of 11%?A. Rs.222.50B. Rs.267C. Rs.222D. Rs.220 Verified
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Hint: First of all, find out the cost price of the article by using the given data and the formula ${\text{C}}{\text{.P}} = \dfrac{{{\text{S}}{\text{.P}}}}{{100 - {\text{Loss% }}}} \times 100$. Then find out the selling with a profit of 11% by using the formula ${\text{S}}{\text{.P}} = \dfrac{{100 + {\text{Profit% }}}}{{100}} \times {\text{C}}{\text{.P}}$. So, use this concept to reach the solution of the given problem.

We know that ${\text{C}}{\text{.P}} = \dfrac{{{\text{S}}{\text{.P}}}}{{100 - {\text{Loss% }}}} \times 100$
So, cost price of the article $= \dfrac{{178}}{{100 - 11}} \times 100 = \dfrac{{178}}{{89}} \times 100 = 2 \times 100 = {\text{Rs}}.200$
We know that, ${\text{S}}{\text{.P}} = \dfrac{{100 + {\text{Profit% }}}}{{100}} \times {\text{C}}{\text{.P}}$
So, selling price of the article to have profit of 11% $= \dfrac{{100 + 11}}{{100}} \times 200$
$= \dfrac{{111 \times 200}}{{100}} \\ = 111 \times 2 \\ = {\text{Rs}}{\text{.222}} \\$